The Australian Bureau of Statistics with a flash release on Australia's international trade in October - please note subject to revision (often quite substantial).

In summary:

  • Exports of goods in October 2020 +6% m/m and -3% y/y
  • Imports +8% m/m, -10% y/y
  • a goods trade surplus of $4,840m

Iron ore exports reached a record high export value of $10,945m.

  • iron ore accounted for 36% of total exports

Top five export destinations

  • China increased $873m (7%)
  • South Korea increased $593m (35%)
  • United Kingdom (UK) increased $367m (26%)
  • Japan increased $324m (11%)
  • USA increased $52m (5%)

AUD not doing too much. It added on a few points (along with similar boosts for other 'risk' trades) earlier on the sentiment boosting announcement that the transition to a Biden presidency had begun and has not done much since.

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Preliminary merchandise trade release is part of a range of special surveys the Australian Bureau of Statistics is conducting to provide more timely economic data during the coronavirus pandemic.